What are Alternate Cryptocurrencies used for?

Hfleer

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Quote from: BrewCrewFan on May 12, 2013, 03:24:21 PM

Quote from: Hfleer on May 12, 2013, 03:18:44 PM

Quote from: champbronc2 on May 12, 2013, 02:58:03 PM

Well..?

You can't even buy shit with them... they are hype-based, nothings without practical value.. right?

And everyone here is just hoping they are less stupid than the less guy and steal his money? While that guy hopes the opposite?

Or am I missing something?

Well Litecoin is good for gpu miners, faster transactions, and has some limited acceptance right now. There's a decent chance this one survives. The others are mostly just clones people hype.

How do we know that every alt coin is just hype? Because some people say so? Opinions on coins are just like assholes, everyone has one.
I mine what I can on my nvidia cards. Being able to jump on new coins is the only way I can do it and it has kept me interested. Of course the chance to make a few bucks motivates me too but I lose no sleep over them if they are not worth anything because I have not invested too much into them. When I do buy new video cards they are going to be ATI for mining but they will also be used like a normal video card anyways.

I would mine whichever one I expect to be most profitable. If you're smart you can sell them at the peak of the hype, and possibly make a lot more than mining Litecoin, or hold them till they're worth 0, your choice.

BrewCrewFan

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Quote from: Hfleer on May 12, 2013, 03:18:44 PM

Quote from: champbronc2 on May 12, 2013, 02:58:03 PM

Well..?

You can't even buy shit with them... they are hype-based, nothings without practical value.. right?

And everyone here is just hoping they are less stupid than the less guy and steal his money? While that guy hopes the opposite?

Or am I missing something?

Well Litecoin is good for gpu miners, faster transactions, and has some limited acceptance right now. There's a decent chance this one survives. The others are mostly just clones people hype.

How do we know that every alt coin is just hype? Because some people say so? Opinions on coins are just like assholes, everyone has one.
I mine what I can on my nvidia cards. Being able to jump on new coins is the only way I can do it and it has kept me interested. Of course the chance to make a few bucks motivates me too but I lose no sleep over them if they are not worth anything because I have not invested too much into them. When I do buy new video cards they are going to be ATI for mining but they will also be used like a normal video card anyways.

Hfleer

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Quote from: champbronc2 on May 12, 2013, 02:58:03 PM

Well..?

You can't even buy shit with them... they are hype-based, nothings without practical value.. right?

And everyone here is just hoping they are less stupid than the less guy and steal his money? While that guy hopes the opposite?

Or am I missing something?

Well Litecoin is good for gpu miners, faster transactions, and has some limited acceptance right now. There's a decent chance this one survives. The others are mostly just clones people hype.

Adamlm

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Here is an interesting example of real-life transaction with cryptocoins:

In early bitcoin days someone bought two pizzas for 10000 bitcoins. It was someone from this forum.

http://quezi.com/14845

I still can't sleep when I think about it. Ten thousand bitcoins... I hope those pizzas were tasty.

Rave

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Quote from: defaced on May 12, 2013, 03:05:53 PM

Quote from: Rave on May 12, 2013, 02:59:35 PM

Nope, that's it.

Would you like to buy some Frankos?

How do you think bitcoin started? With shopping malls and markets galore with people begging to be paid with bitcoins? More like people had to be convinced they were the future. Then people started adopting them. Value comes from what someone is willing to use them for.

Does that mean that you want the Frankos?

bitdwarf

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The cryptocoin watcher

BTC is the known crypto but it doesn't support well face to face payments because it's so slow and, since it doesn't, there aren't many existing crypto businesses of the kind that benefits from fast transactions. Plus exchange fees for alts are high.

So there's two things to weight first before evaluating alts:

* That most BTC businesses aren't aware of them.
* That using alts to work around BTC's slowness comes with high fees

Adamlm

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Litecoin also started like this, there were only exchange for BTC and other altcoins from that time (like IXC, I0C, SC, GG).
And now there are many web services accepting LTC. Most of them are gambling sites, but still LTC is the only one beside BTC which can be used outside coin exchanges

BrewCrewFan

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Quote from: champbronc2 on May 12, 2013, 02:58:03 PM

Well..?

You can't even buy shit with them... they are hype-based, nothings without practical value.. right?

And everyone here is just hoping they are less stupid than the less guy and steal his money? While that guy hopes the opposite?

Or am I missing something?

Drrrrrrr

The same thing was said about BTC back then too....

drrrrrrr

defaced

legendary

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Franko is Freedom

Quote from: Rave on May 12, 2013, 02:59:35 PM

Nope, that's it.

Would you like to buy some Frankos?

How do you think bitcoin started? With shopping malls and markets galore with people begging to be paid with bitcoins? More like people had to be convinced they were the future. Then people started adopting them. Value comes from what someone is willing to use them for.

00400

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Well in most of cases that's true (very). But each coin has to start from something. It can be build into something while time passes.

Rave

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Nope, that's it.

Would you like to buy some Frankos?

champbronc2

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Well..?

You can't even buy shit with them... they are hype-based, nothings without practical value.. right?

And everyone here is just hoping they are less stupid than the less guy and steal his money? While that guy hopes the opposite?

Or am I missing something?

Topic: What are Alternate Cryptocurrencies used for? (Read 687 times)